Annual Report for 2010/2011 and 2011/2012

— May 22, 2017

Annual Report for 2010/2011 and 2011/2012

During the two financial years covered by this report, the PetroCaribe Initiative further cemented its position as the largest source of concessional loan financing available to the Government of Jamaica. During the two years, just over $75 billion (US$846.1 million) accrued to Jamaica under the PetroCaribe Energy Accord, bringing the total financing from Venezuela since the commencement of the arrangement in 2005 to just over $170 billion (US$2.0 billion) at March 31, 2012. In FY2011/12 alone, total financing was approximately $48 billion (US$566.1million), a 100% increase over the previous year, and the highest for any single year.